Form 4
1. Name and Address of Reporting Person -- Kellogg, Peter
R.
C/O Spear, Leeds & Kellogg
120 Broadway
New York, New York 10271
2. Issuer Name and Ticker or Trading Symbol --
Interstate/Johnson Lane Inc (IJL)
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for Month/Year -- October, 1997
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer -- Director
and 10% Owner
Table I - Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
1. Title of Security -- Common Stock.
2. Transaction Date. -- October 21, 1997.
3. Transaction Code -- V.
4. Securities Acquired (A) or Disposed of (D)
Amount = 499. (Stock issued on October 21, 1997,
with six-month restriction, in lieu of $15,000 in
director retainer fees.)
(A) or (D) = A.
Price 30.0625.
5 Amount of Securities Beneficially Owned at End of Month
= 352,999.
6 Ownership Form -- (D).
7 Nature of Indirect Beneficial Ownership -- N/A.
5. Amount of Securities Beneficially Owned at End of Month
499,500.
6. Ownership Form (I).
7. Nature of Indirect Beneficial Ownership -- IAT
Reinsurance Syndicate, LTD., a Bermuda Corporation of which
Mr. Kellogg the sole holder of voting trust. Mr. Kellogg
disclaims beneficial ownership of these shares.
8. Amount of Securities Beneficially Owned at End of Month
= 100,000
9. Ownership Form -- (I)
10. Nature of Indirect Beneficial Ownership -- J.C. Kellogg
Foundation, a non-profit organization of which Mr. Kellogg
is a trustee. Mr. Kellogg disclaims beneficial ownership of
these shares.
11. Amount of Securities Beneficially Owned at End of Month
= 100,000.
12. Ownership Form (I).
13. Nature of Indirect Beneficial Ownership -- Cynthia
Kellogg, Mr. Kellogg's wife. Mr. Kellogg disclaims
beneficial ownership of these shares.
Table II - Derivative Securities Acquired, Disposed of, or
Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
1. Title of Derivative Security. N/A.
2. Conversion or Exercise Price of Derivative Security. N/A.
3. Transaction Date. N/A.
4. Transaction Code. N/A.
5. Number of Derivative Securities Acquired or Disposed N/A.
6. Date Exercisable and Expiration Date N/A.
7. Title and Amount of Underlying Securities N/A.
8. Price of Derivative Securities N/A.
9. Number of Derivative Securities Beneficially Owned at End
of Month N/A.
10.Ownership Form of Derivative Security
N/A.
11.Nature of Indirect Beneficial Ownership N/A.
